LUCKNOW: The Uttar Pradesh Cabinet has approved a 1% discount in stamp duty for properties valued up to Rs 1 crore when registered in a woman’s name.
This decision was made during a Cabinet meeting led by Chief Minister Yogi Adityanath at Lok Bhavan, as stated by the UP government. A total of 37 proposals were approved during this session.
Previously, this exemption was limited to properties worth up to Rs 10 lakh, with a maximum discount of Rs 10,000. The government has now expanded this exemption to include properties valued up to Rs 1 crore.
Labour Minister Anil Rajbhar emphasized that this initiative aims to empower middle-class women as property owners, thereby boosting their confidence and financial independence, which will enhance their status in society.
This exemption is also expected to fortify the ‘Mission Shakti’ program, focused on making women self-reliant and empowered.
The central government also indicated in Budget 2024 a reduction in stamp duty for properties registered in women’s names, aligning with Uttar Pradesh’s recent decision. This move could significantly increase property registration in women’s names, the statement noted.
The Cabinet further approved a proposal to provide 10 hectares of land at a nominal annual lease of Re 1 for the establishment of the IR Detection Technology Centre, as proposed by the Instruments Research and Development Establishment (IRDE), DRDO.
This center will be located in the Lucknow section of the Uttar Pradesh Defense Industrial Corridor and is expected to create direct employment for around 150 engineers and technical personnel, with over 500 additional jobs anticipated indirectly.
IRDE, based in Dehradun, is part of the Defence Research and Development Organisation (DRDO) and is launching a project to develop a local fabrication line for manufacturing infrared detectors, aiming to place India among leading nations in this technology, as per the Uttar Pradesh government’s statement.
